CNF Investments, an investment affiliate of conglomerate Clark Enterprises, exited US-based retail analytics technology provider yesterday Orchestro through an acquisition by supply chain services provider E2open, for an undisclosed amount.
Founded in 1999 as Vision Chain, Orchestro operates a software-as-a-service that uses big data analytics to help retailers understand consumer demand, collaborate across departments, introduce new products and improve stock management. It will be integrated into E2open’s offering.
Orchestro most recently raised $9.8m in a 2014 funding round led by Novak Biddle Venture Partners that included CNF and New Markets Venture Partners.
The company had previously secured approximately $11.4m in equity and debt financing, according to regulatory filings.
PV Boccasam, chief executive of Orchestro, said: “Orchestro’s vision was to leverage big data to make big decisions in the retail and consumer packaged goods supply chain.
“We can now combine one true demand signal with demand sensing technologies to enable manufacturers to become proactive in preventing out of stocks, provide actionable insight from source to shelf, and pre-empt expensive disruptions in the supply chain.”